With millions of people losing jobs due to coronavirus, many Americans are receiving some relief from the federal government in the form of a check. Chances are pretty that if you check your bank account right now you'll see an extra $1200!
Katie Neal has some advice on how you can manage your extra cash.
1. Build up your emergency fund - Having at least 3 months of readily accessible money is always a safe bet in case tough times like these catch you off guard.
2. Pay down high-interest debt - You can put the money towards paying off high-interest rate credit cards.
3. Spend it at local businesses - This is a tough time for local businesses because everyone is stuck in quarantine. If there are stores or restaurants in your area that you want to see make it through this coronavirus pandemic make sure to get delivery or takeout from them. You can also buy a gift card to help them get some cash in hand.
4. Donate to Charity - There are so many people that could use some extra help in these tough times. From food to medical supplies there are many ways to help out.
